A Statistical Equilibrium Approach to Adam Smith’s Labor Theory of Value
Review of Radical Political Economics
Published online on August 26, 2025
Abstract
Review of Radical Political Economics, Volume 58, Issue 1, Page 59-76, March 2026.
Adam Smith’s inquiry into the emergence and stability of the self-organization of the division of labor in commodity production and exchange is considered using statistical equilibrium methods from statistical physics. We develop a statistical equilibrium ...
Adam Smith’s inquiry into the emergence and stability of the self-organization of the division of labor in commodity production and exchange is considered using statistical equilibrium methods from statistical physics. We develop a statistical equilibrium ...